US Debt – new perspective
This was one of the best reads ever on our national debt crisis – and yes, it is indeed a national
debt crisis. I’m a numbers guy and have been following these macro trends since my college days.
This web article
analysis by year dating back to 1929. It breaks it down by President, by year,
includes events that causes a spike (9/11) but provides some insight that you
may not have been aware of before.
For instance, it correctly states that debt should not be measured from the time
a President takes office because the budget in the first year belongs to the
outgoing President. The article continues that it’s best to compare each year’s
deficit – along with the special events – to evaluate the effectiveness of
fiscal policy. And by the way, it involves a few others besides the head honcho.
Analysis is one thing and action is another. I can scream all day long about the
consequences of the the Debt/GDP ratio going from the low 30s (as a percentage)
in the early 1980s to where it is today – for the first time, it’s over 100%.
With near zero interest rates, a sluggish economy and entitlements at an all
time high, every single American should be concerned. Not tomorrow, but right
now. I’ve not heard any remedies from anyone – the candidates, the economists or
the Wall Street experts. Maybe there isn’t one.
Being ‘connected’ to our bank of media sources is a clear indication of where
America’s focus lies – they’re doing a superb job keeping us distracted.
Tick tock, tick tock.
June 5, 2015